back Back

Spire and Mastercard partner to enhance digital banking solutions

By Leandra Monteiro

June 23, 2022

  • Digital Lending
  • Financial Management
  • GCC
Share

Mastercard, SpireSpire, a GCC Open Banking services provider, has announced a strategic partnership with Mastercard, a technology leader in the global payments industry. The collaboration will help banks revolutionize consumer engagement and enhance user experiences in the region by integrating Spire “Ingage” and Mastercard’s Merchant Identifier solution.

Spire “Ingage” is an AI-driven financial wellbeing platform for retail banking customers, which provides smart budgeting, smart savings, smart lending, proactive bill management, and real-time financial reminders to help simplify consumer finances and financial decision-making.

Mastercard’s Merchant Identifier solution will be integrated to provide real-time merchant data into different categories, formatted to be relevant and recognizable to banks as well as their customers. This allows customers to have a simple and holistic view of their banking transactional activities. Banks will benefit from reduced inquiries as these insights provide simple and recognizable transactional insights to their consumers.

Aamir Janjua, Group CPO of Aion and Spire stated, “Our promise is to enable a connected, simplified, and convenient financial lifestyle and experience for the 65 million GCC consumers. ‘Ingage’ helps banks to offer personalized financial services and insights to their customers to better manage their financial lives. We are excited to partner with Mastercard to provide simple, transparent and meaningful transactional insights to banks and their customers.”

J.K. Khalil, Country General Manager, MENA East, Mastercard said, “We are delighted to announce our partnership with Spire as part of our efforts to simplify the digital journey for consumers. Through this partnership, cardholders can now easily understand their payments history, therefore eliminating the need to clarify statements, and allowing for better financial management. We see this innovation as a key milestone in our ongoing efforts to provide seamless and simple payment experiences for all as we embrace the limitless possibilities presented by Open Banking.”

The partnership is a step towards providing a real-time personalised customer experience with content that promotes proactive financial management to consumers, ultimately leading to enhanced customer acquisition, retention, and recommendations.

Previous Article

June 23, 2022

Prime Trust raises over $100m in Series B funding

Read More
Next Article

June 23, 2022

Galileo to power Fundbox as the new partnership expands payment capabilities

Read More







Advertise with us



IBSi Daily News Analysis

Monday

June 27, 2022

Digital Lending

The Monday Roundup: what we are watching this week | June 27th

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 27, 2022

Lokyata announces Systems Integration with Infinity Software

Read More

June 27, 2022

Kroo is now a fully licenced bank in the UK

Read More

June 27, 2022

NeoGrowth launches Accelerator business loan offering

Read More

Related Reports

Sales League Table Report 2022

£ 1,500.00 / year

Know More
Global Digital Banking Vendor and Landscape Report Q1 2022

£ 1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q1 2022

£ 1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q1 2022

£ 1,500.00 / year

Know More
Treasury and Capital Markets Systems Report 2021

£ 1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022